Transocean Pens Another Sedco 714 Deal with Total (UK)

Transocean, a Switzerland-based offshore drilling contractor, has secured a new contract for its Sedco 714 semi-submersible rig.

The drilling company announced in its Fleet Status Report yesterday, that the oil company Total E&P UK, a subsidiary of the French oil major Total, is extending the rig contract.

Total will continue to use the Sedco 714 in the UK sector of the North Sea for another 18 months at a dayrate of $435,000 ($235 million contract backlog).  Under the agreement, the new contract will become effective in April 2014. The rig’s prior dayrate was $398,000.

The SEDCO 714 is a Sedco 711 design semi-submersible drilling unit capable of operating in water depths up to 1,800 feet using 18¾in 15,000 psi BOP and 21in OD marine drilling riser.

In April 2012 Total used Sedco 714 to drill a relief well as part of the company’s strategy to stop the Elgin G4 gas leak which occurred on March 25, some 240km off the coast of Aberdeen, UK.

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Offshore Energy Today Staff, January 18, 2013